House of Representatives has urged the federal government to quickly implement palliative measures to mitigate the effects of fuel subsidy removal on Nigerians.
The green chamber reached this resolution when it adopted a motion sponsored by Sani Madaki , at plenary on Wednesday.
Moving the motion, Madaki said on Monday, May 29, president Bola Ahmed Tinubu in his inaugural speech, announced the removal of Nigeria’s fuel subsidy. He said, “Also notes that as a result of the subsidy removal, the official pump price of petrol skyrocketed from the initial N195 per litre to a whopping N480–N577 per litre as the prices varied between states.
“Concerned that the implication of over 200 per cent price adjustment in fuel prices is that nearly all prices of goods and services have drastically increased. “Also concerned that the sudden fuel subsidy removal has left millions of Nigerians terrified, thus causing untold hardship as Nigerians grapple with the challenges of meeting up with, not only the high cost of petrol but also the consequent increase in the prices of goods and services.
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